8 Review of Compliance with TPR Code 14 PDF 217 KB
To consider the action plan for addressing amber and red items identified.
Minutes:
The Chair was pleased to see progress and continued work on ensuring compliance with the TPR Code of Practice 14. The Pension Fund Manager advised that he emailed monthly progress reports on compliance to the Board Chair. He had reviewed four out of the nine sections.
The Board agreed that all Board Members should be copied into the emails regarding progress reports on compliance and that this item would be added to the Work Programme.
The Board reviewed the following sections and made the following comments [numbers in brackets refer to the Compliance indicator]:
Governing the Scheme –
39 – this would be addressed by the Training Needs Analysis to be completed by the Board Members.
44 – consideration would be given to remove such statements of facts from the compliance register.
46 – details of important documents would be produced for the next meeting and via links to public documents.
48 – 57 – these would be addressed via the Training Needs Analysis.
Publishing information about the Scheme –
96 – the Pension Fund Manager had changed this to “amber” from “green” as more information was needed on the website.
92/93/94 – a note would be added to the final column “Current position” that the information was available on the website.
96 – it was agreed that further information regarding the status of Board Members would be available on the website.
97 – the information, in respect of the Board, on the Council’s Committee agenda website, would be reviewed.
Providing information to Members
196 – it was agreed that this should be “amber” as the information provided to Members should always be under review.
208 – the Board noted that the tracing exercise would likely focus on members aged 50 plus and overseas pensioners would also be checked.
The Chair advised that the National Fraud Office had undertaken a review of issues.
The Board agreed that the National Fraud Office findings would be considered and added to the Work plan.
The Chair advised that as new regulations come into force, the Board reviews that they have been acted upon, implemented and complied with by the pension fund.
The Board agreed that a log of regulations and commentary on implementation and compliance would be developed from May 2019.
Resolving issues
224 – the wording of this section would be revised.
8. Review of Compliance with TPR Code 14 PDF 217 KB
To consider the action plan for addressing amber and red items identified.